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KSE-100 jumps above 33,000 levels

Karachi—KSE-100 Index which is upbeat for the last 9th trading session jumped above 33,000 levels after a handsome gain of over 580 points in a brisk trading session to close in green at 33,022 levels here on Monday. The market volume also gave a respectable look of 203 million shares at the close indicating participating of domestic as well as foreign investors as the index extended its gains in the last trading session, not only closing in the green but also managing to close above the channel.
The factors behind the current boom in trading activity include strong corporate results, strong activity construction industry raising demand for cement in the domestic market, increased activity in financial sector as well oil based stocks. Amid a respectable market volume Jahangir Siddiqui was volume leader of the day with a trade of 14.76 million shares their credit, while TRG Pakistan and PTCL were second and third volume leaders with respective trade of 14.56 million and 10.73 million shares in that order. Overall 234 stocks were closed in green while 82 were the losers. It may be noted that international oil prices rallied on Friday as a strong Jobs report boosted prices.